Selling a Business in Arizona
Selling a business after years of work can be extremely profitable. Many businesses are created with the hopes that they will one day be acquired by a larger firm. The sale can be complicated, however. There are Federal and Arizona laws concerning mergers, acquisitions, negotiations and securities exchanges that must be followed.
How Do I Sell a Business?
To sell a business there must be an offer, whether it is solicited or not. Purchase agents in Phoenix not only help to secure an offer, but also lends advice about which offers are worthwhile to consider. Preparing financial records to comply with Arizona and Federal law is necessary and will help determine the proper value for the rights you are selling. Lastly, an agreement will be reached in the form of a written contract. All parties should review the contract to ensure that it reflects a complete understanding of what the parties have agreed.
What Will I Give Up in the Business?
The sale of a business is simply the transfer of a right known as "control". The party with control of a business directs its operations and can use the business property as it sees fit. The right of control can be separated easily from the business, and this often leads the buyers in Phoenix to be less interested in other rights within the company. In fact, buyers often leave other rights, such as the right to future earnings, with the sellers so that they can acquire control more cheaply. Because of the wide variety of different concerns buyers may have, negotiations are vital. Each party should voice their intents and concerns during this process.
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Life in PhoenixIt is in Phoenix, Arizona that one can find the "Jewel of the Desert." The Arizona Biltmore Resort & Spa is known all over the world for its gorgeous 39 acre property. In fact, celebrities, U.S. Presidents and millions of tourists stay at this wonderful resort.
Phoenix has much more to offer its tourists alongside the beautiful Biltmore. Some popular attractions include the Arizona Science Center, Camelback Mountain, Castles n' Coasters, Chase Field, Encanto Park, and Orpheum Theatre. Phoenix offers a mix array of attractions ranging from those displaying the beautiful desert and Mother Nature, as well as those with a modern, metropolitan touch.
Phoenix being the industrial hub of Arizona is home to many large, mid-size, and small boutique law firms. In fact, the University of Arizona is a top law school that produces great legal minds every year. Therefore, Phoenix citizens can rest assure because any of their legal needs can easily be taken care of.
How Can an Attorney Help?
The law in Arizona places certain demands on parties who want to sell a business. Attorneys in Phoenix are qualified to advise you in this process and ensure that the sale is in compliance with the law.